SKY Company Ltd., not registered under GST, purchased material 'RPP' from a company, registered under GST. The following information is available for one lot of 5,000 units of material purchased: Listed price of one lot Trade discount CGST and SGST (Credit Not available) Road Tax paid Freight and Insurance Detention Charges Commission and brokerage on purchases 7,50,000 @ 10% on Listed price. 12% (6% CGST + 6% SGST) 15,000 51,000 15,000 30,000 90,000 60,000 @2% of total cost Amount deposited for returnable containers Amount of refund on returning the container Other Expenses 20% of material shortage is due to normal reasons. You are required to CALCULATE cost per unit of material purchased to SKY Company Ltd.

SKY Company Ltd., not registered under GST, purchased material 'RPP' from a company, registered under GST. The following information is available for one lot of 5,000 units of material purchased: Listed price of one lot Trade discount CGST and SGST (Credit Not available) Road Tax paid Freight and Insurance Detention Charges Commission and brokerage on purchases 7,50,000 @ 10% on Listed price. 12% (6% CGST + 6% SGST) 15,000 51,000 15,000 30,000 90,000 60,000 @2% of total cost Amount deposited for returnable containers Amount of refund on returning the container Other Expenses 20% of material shortage is due to normal reasons. You are required to CALCULATE cost per unit of material purchased to SKY Company Ltd.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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